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Share Name Share Symbol Market Type Share ISIN Share Description
Gli Finance Zdp LSE:GLIZ London Ordinary Share GG00BTDYD136 ZDP NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 117.00p 116.00p 118.00p 117.00p 117.00p 117.00p 17,031 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 0.00

Gli Finance Zdp Share Discussion Threads

Chat Pages: 1
DateSubjectAuthorDiscuss
12/10/2018
10:06
From Quoted Data hTTps://quoteddata.com/zeros-warrants-and-subscription-shares/?utm_medium=email&utm_campaign=QD%20October%20Monthly%20-%20Regulated&utm_content=QD%20October%20Monthly%20-%20Regulated+CID_7f07415148ba4fbc72c37cc1742dc290&utm_source=Campaign%20Monitor%20emails&utm_term=readmore 01 October 2018 Maturity Date Unexpired life (years) Price today Net asset value now Current GRY Final Redemption price Final asset cover Issue size (millions of ZDPs) GLI Finance ZDP : GLIZ 05/12/2019 1.18 112 122.7 GRY 14.03% mat 130.7 cover 3.3x 20.4
davebowler
12/5/2018
06:48
Page 46 of the Annual Report 2017: "At maturity, there are a number of options being considered with regard to the ZDPs, the success or failure of which represent a significant sensitivity to the longer term viability assessment. They could potentially be rolled, refinanced with more traditional institutional debt, or repaid from the proceeds of asset sales, such as investments in FinTech Ventures, or maturities within the loan book. Whilst no decision has been taken, the Board’s current preference would be to refinance or roll the ZDPs, leaving greater flexibility around the timing of asset sales to ensure the maximum value can be secured." Source: https://www.glifinance.com/wp-content/uploads/ar2017/chromium/index.html#page=48
secureserenity
12/5/2018
06:40
Their 2017 Annual Report, released April 2018: "Interest costs have decreased in the year from £3.8m to £2.2m as the syndicated loan of £11.9m was repaid in March 2017. As intended, the repayment of the syndicated loan enabled us to reduce our weighted average interest cost for the year ended 31 December 2017 down to 5.9% (from 7.5% at 31 December 2016). At the year end, interest bearing debt comprised: * £10m 5-year Bond (7%) matures 30 June 2021, interest paid half yearly; and * £20.7m 2019 ZDPS (5.5%) income entitlement and principal due on expiry 5 December 2019 (£24.7m)" This looks good for ZDP holders, in that they are due to be repaid (or rolled over etc) first, in December 2019, with the only other major debt being due in June 2021.
secureserenity
08/4/2018
02:25
In the recent results the company mentioned that they would look to either refinance or roll over these shares before they become due.
pejaten
16/2/2018
05:22
Remind me why you think the principal will not be returned? Are the company's assets insufficient in some way ?
secureserenity
16/2/2018
05:22
Remind me why you think the principal will not be returned? Are the company's assets insufficient in some way ?
secureserenity
18/1/2018
12:32
Still priced as if the principle is going to be returned.Seems highly unlikely so by all measures it looks insanely overvalued.
my retirement fund
17/1/2018
20:34
at 103 the GRY is more than 13%! on a zero dvd pref share!! ie distressed
yieldsearch
15/3/2017
06:52
The Zeros look like good value, if Liberum estimate of their cover is correct. Looks like their price is picking up in recent days. GRY is around 8 1/2 per cent, so still look like good value, unless people think the company is likely to fail in the next 3 years?
secureserenity
21/2/2017
10:14
Liberum; Specialist Finance SME Loan Fund (Mkt Cap £49m) Proposed change of manager and secondary placing Event The SME Loan Fund is in discussions to appoint SQN Capital Management as investment manager of the fund which is conditional on a secondary placing of GLI Finance's 48% stake in the fund. If the secondary placing is not completed, the directors will propose an orderly realisation of SMEF's investments and return of surplus capital to shareholders via mandatory redemptions. GLI Finance is seeking to place its stake in company at 90p per share (3.2% discount to the current price and 9.6% discount to NAV) which would value its holding at £22.7m. The proceeds would be used to repay the £14.9m syndicated loan on GLIF's balance sheet which expires on 15 March 2017. If the secondary placing is successful, the investment policy of the fund will be amended to focus on wholesale lending, trade and receivable finance and collateralised lending opportunities. The target dividend will be rebased to 6.25p or an annual yield of 6.3% based on the NAV at 31 January 2017. SQN will be entitled to a 1% management fee and a 1% structuring fee on new investments. Shareholders will have the option to consider the future for the company if the shares trade at more than a 10% discount over any three-month period and a continuation resolution will be proposed if the net assets are below £250m at 31 December 2019. Somerston Group (28% holder of SMEF) has indicated it will support the proposals. Liberum view This would appear to be a beneficial solution for all parties as the fund is sub-scale and the appointment of SQN Capital is likely to improve the company's ability to raise further capital given the manager's track record from SQN Asset Finance. For GLI Finance, the sale of the SMEF stake would allow the company to simplify the company structure and repay short-term debt. We estimate the gross cover on the GLIF's ZDP shares (which have a gross redemption yield of 10.1%) would rise from 3.1x to 3.9x on a pro-forma basis.
davebowler
09/8/2016
08:27
Liberum re GLIF £7m placing Event GLI Finance Ltd. (GLIF) has announced its intention to raise gross proceeds of £7.1m through the placing of 23,020,560 new ordinary shares. The issue is fully underwritten by Golf Investment Ltd, who will subscribe for approximately 75% of the placing (17.7m placing shares). The remaining 25% or 5.4m shares are to be placed with relevant persons as identified by the bookrunner and to the extent that this portion of the placing shares is not fully taken up, Golf will also subscribe for the balance. The placing price of 31p per share represents a 14% premium to the 8 August closing price and a 15% discount to the last published NAV (on a ex-income basis). It is expected that the new shares will be admitted to trading on AIM on 15 August 2016. In relation to the dividend policy, GLIF has confirmed that it will pay a 2.5p dividend for 2016. From 2017 the company will only pay a dividend when fully covered by the financial year's cash earnings. The company intends that it will continue to pay dividends to holders form 2017, but this change is to enable the company to take advantage investment opportunities and to fund growth of investee platforms, enhancing shareholder value in the longer term rather than focusing on short term income. The company currently trades at a 28.4% discount to NAV.
davebowler
03/2/2016
16:49
They could, only if all the assets of GLIF are worth zero. unlikely i would say I think this was badly marketed to investors and i guess not fully placed (reading what happened recently at the management level at glif..), so could go down further
yieldsearch
03/2/2016
16:45
Batches being sold for 99.5p now could these go to zero?
my retirement fund
27/1/2016
19:16
am i right to say that the yield here is 7%ish at 100.50 traded price ? is there a shareholder list available on this?
yieldsearch
05/10/2015
10:50
Any one in then?
my retirement fund
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